Venture-Backed Biotechnology Companies Lead Charge to Public Markets
Twelve venture-backed initial public offerings raised $893.9M in the second quarter of 2016, according to the Exit Poll Report by Thomson Reuters and the National Venture Capital Association. Led by biotechnology companies, nine of this quarter’s offerings were life sciences IPOs.
Sixty-one venture-backed M&A deals were reported for the second quarter of 2016, 11 of which had an aggregate deal value of $9.0B. The IT sector led the venture-backed M&A landscape with 46 of the 61 deals. However, the largest transaction during this time was Abbvie Inc’s $5.8B acquisition of Stemcentrx Inc, followed by McKesson Specialty Health’s $1.2B purchase of Vantage Oncology, Inc. These two deals pushed the disclosed value of venture-backed exits in the life sciences sector to an all-time quarterly record.
